ROME: The first forecast of the Food and Agriculture Organisation of the United Nations (FAO) for the 2024/25 (July/June) season anticipates world cereal production to total 2 846 million tonnes, virtually on par with the record output realised in 2023/24. Global maize and wheat outputs are forecast to decline, while those of barley, rice and sorghum are predicted to increase, according to the new Cereal Supply and Demand Brief, released Friday. However, the recent adverse weather conditions in the Black Sea region will likely result in a downgrade in world wheat production, a possibility not yet reflected in the forecast.
World cereal total utilization in 2024/25 is expected to increase by 0.5 percent to a new record high of 2 851 million tonnes, led by increased food consumption, especially of rice.
World cereal stocks will likely increase by 1.5 percent above their opening levels to a record level of 897 million tonnes. Inventories of maize, barley, sorghum and rice are all expected to increase, while th
ose of wheat could decline. The global stocks-to-use ratio will likely remain at 30.9 percent.
FAO predicts world trade in cereals to decline by 1.3 percent from the previous year to 481 million tonnes, led by lower trade prospects for maize. International rice trade is forecast to grow robustly.
Source: Emirates News Agency